Mel Abraham argues that the habits that build wealth often trap retirees psychologically. About half of retirees won't spend their savings, not because of math but because of mindset. His solution: build a financial system large enough that you never have to touch your principal.
the habits that build wealth can become the very same habits that imprison you. The exact behaviors, the mindset, the identity that got you the financial success. Those are the same things that can quietly turn into a psychological prison, a trap that keeps you from living the life that you built all this for. Half of all retirees are reluctant to spend or draw down their savings, that is not a math problem. That is not a strategy problem. That is a psychology problem. Build the machine large enough that you never have to spend it down at all.
